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Hold tight and hold firm for 20p plus on Galaxy's imminent second $250k payment which will be the strongest endorsement of their expectations of a successful conclusion on the High Court hearing in 12 days time. No doubt there will be some nervous investors who might decide to cash in if news doesn't arrive by Friday but as the second payment is scheduled by the 31st March, it's conceivable that confirmation of the payment might not arrive until Monday .....Galaxy's backer Hunch Ventures are certainly not short of a few bob and have confirmed this month that they have $25m to invest this year....and with one $250k payment already made , the second one is a given imho...Gla holders...20p plus more than likely on confirmation...:-)

Galaxy's partner and Indian capital financial backer in the news. Gla :-)

12/3/19

Hunch Ventures looks to invest Rs 175 crore this year

MUMBAI: Venture capital fund Hunch Ventures is looking to spend $25 million (Rs 175 crore) this year an investment that includes its latest investment of £8.3 million (Rs 75 crore) in Karanja Port, which is managed by Mercantile Ports and Logistics.

In the meantime....15p plus coming today....20p plus plus plus on Galaxy's next payment....The Tiger is awakening.. Gla :-)

The new Indian mining policy introduced last month must add huge weight to Panthera's rightful claim, and couldn't have come at a better time following the change of key adminisrators within the Rajasthan Government and Mining Dept. as well as Galaxy and Hunch's extensive technical and legal due diligence with the High Court hearing fast approaching....Permit license approval will see this multi-bag in a blink!!! Gla ;-)

India approves ‘first right to refusal’ to mineral reconnaissance permit holders

6th March 2019 

KOLKATA (miningweekly.com) – The Indian government will grant reconnaissance permit (RP) holders a ‘first right of refusal’ in cases where a mineral block is put up for auction wherein the RP holder has established evidence of minerals.

The move is aimed at boosting sentiment among prospective investors, as RP holders would object to competitors bagging mineral blocks that they have established deposits on.

The approval is part of the National Mineral Policy 2019, ratified by the Union Cabinet last week although details of the policy are yet to be put in the public domain.

The policy also provides for a window for the government to take back mineral blocks allocated to government-run mineral companies, which had either not explored the allocated block, or failed to develop the asset and start mining operations within a reasonable period of time

Exactly what I'm thinking Babbler, and despite this stellar rise the market cap is only £10m....absolute peanuts on the potential to so much gold and the BSE listing.....all we need is the permit license approval and the sky is the limit...and so far, the rise in sp suggests it could be a done deal....Panthera, Galaxy and Hunch have been in negotiations for months and their extensive technical and legal due diligence looks to be on the Money....On and Up and Up and Up and Up and Up and Up and Up and Up and Up and Up and Up!!! :-)

Fly me to the Moon.....;-)))))

15p on the cards today imho...Gla Holders...Right time, right place...On and UP!!! ;-)

ps.... with so few posting here and on Advfn, considering the stellar rise from sub 2p, it makes you wonder who has been hoovering up all the shares during that time....fingers crossed it's those in the know including key Indian officials. Gla ;-)

ps Good Morning opulentia and Babbler2, another exciting day ahead with news of Galaxy's second $250k payment expected imminently....and an opportune time to confirm High Court hearing at the same time....and as far as Galaxy's BSE listing price, i'm sure this will be dependent on the award of the Bhukia permit license, Galaxy have other Indian gold targets in India and Tanzania bur Bhukia is the prize and so their listing price could be considerable if all goes to plan. There now must be many other Indian institutions and investors who will be involved in this listing process and so no doubt plenty with a vested interest and influence to secure the rightful award of the permit......in the meantime 20p will be tested on confirmation of Galaxy's second cash tranche....the strongest endorsement of their expectations. Gl ;-)

The centre left Congress Party took control and jurisdiction of Rajasthan during the state elections in December 2018 from the BJP Party, right wing Hindu nationalists, and now Rahul Gandhi is drumming up support for the Indian Lok Sabha election with an emphasis in dealing with poverty and unemployment. Rajasthan's unemployment has doubled in the last two years and so the state is desperate for jobs and investment, the Congress party are committed to drive down unemployment and so given the many jobs that would be created are very likely to have a much more sympathetic and supportive view on Panthera's rightful claim to Bhukia. Gla ;-)

.................

Congress gears up for Rahul Ghandi's three rallies in Rajasthan today.

26th March 2019

JAIPUR: Congress president Rahul Gandhi will kick-start his election campaign ahead of the Lok Sabha elections in Rajasthan with a public rally in Sriganganagar’s Suratgarh ditrict on Tuesday.

Gandhi's visit to Rajasthan will have a lot of significance as it comes just a day after he announced that if his party comes to power at the Centre, it will provide Rs 72,000 per annum to the 20% poorest families under the minimum basic income guarantee scheme.

Read more at:
http://timesofindia.indiatimes.com/articleshow/68569680.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst ..

Sourcing of dore or unrefined gold is a big controversy globally and there was always a question on mines which are producing it whether the mine is using the funds for illegitimate activities or not. Globally OECD has developed norms to avoid such gold and Indian industry has been working for the same. However, NSE spokesperson said that “the exchange’s India good delivery norms for gold will accommodate norms to verify legitimate sourcing of gold dore by Indian refineries.”

The sourcing norms will also include norms for sourcing domestic gold for recycling where the gold provider will have to give an undertaking that no money laundering etc involved for the gold he is giving for recycling.

ndian gold rush....the most perfect storm brewing for Panthera's potential Bhukia gold resource and Galaxy's BSE listing. Gla :-)

NSE eyes 350-375 tonnes of domestically refined gold market for derivatives

Rajesh Bhayani | Mumbai | Last Updated at March 25 2019 13:16 IST

With over 350-375 tonnes of the domestically refined gold market still away from the organised trading platforms in India, the National Stock Exchange of India (NSE) has decided to accept it as good delivery on its derivatives platform. So far, only London Bullion Market Association recognised bullion is accepted as good delivery on the exchange platform.

NSE has initiated a move to decide India good delivery norms for gold including sourcing norms for gold refined and unrefined (dore). The process of finalizing new norms and implementing is expected to take two months.

These are significant as in last few years Indian bullion refineries’ business has increased and in 2018 domestically refined gold contributed from dore and recycled gold to half (350-375 tonnes) of the domestic gold demand. However, on gold futures exchanges this gold cannot be delivered. This means domestic refineries have limited access to hedge their future production on exchange platform as they can’t deliver gold the refine on exchange platform.

India’s domestic physical gold demand is 600 tonnes for jewellery and 160-175 tonnes of investment demand, according to the World Gold Council 2018 data. 275 tonnes of gold was supplied by Indian gold refineries and 87 tonnes of gold was derived from scrap or recycled gold. Indian metal companies also derive gold from ores of other metals during the process of refining them. This was 8.6 tonnes. All these can now be deliverable on the futures market once India goods delivery norms are in place.

At present, only MMTC-Pamps refines gold, which is LBMA standard and eligible to be delivered on Indian exchanges.

NSE’s move will help this domestically refined gold deliverable on its futures exchange where gold is already traded. At present, MCX and BSE accept gold to be delivered in futures, which is as per LBMA good gold delivery standards. NSE spokesperson said that “we are developing India good delivery standards and they will be largely in sync with LBMA and BIS norms.” 20 plus Indian bullion refineries that are registered with Bureau of India Standards have applied to NSE and six have been approved. International agency Alex Stewart, which provides inspection and analytical laboratory services, is studying the processes of these refineries and giving their score.

Even a domestic laboratory is also looking at the same and expected to give its report on processes of refineries that it has studied.

High court hearing only 3 weeks away!!! ;-)

nly 67.6m shares with 36.3% not in public hands, and so only 43m shares in the market with the majority tightly held for near term transformational upside on permit approval for their Indian world class gold prospect ( High Court hearing only 5 weeks away...More news expected from Panthera's West African , Mali and Burkino Faso gold prospects in the coming weeks, as well as the imminent second $250k cash payment from Galaxy....and another $750k from Galaxy and £1.5m cash from Panthera's strategic investor, Republic Investors, by the time all approvals are in place for Bhukia, and then potential considerable added value from Galaxy's planned listing on the Bombay Stock Exchange, that will incorporate Panthera's Indian subsidiary, Indo Gold and open up Bhukia to the Indian market and investors......Gla Holders....Panthera's current £6m market cap, just on Bhukia's 6m plus oz resource target offers breathtaking upside if all goes to plan...On and UP!!! ;-)

Get UP there!!! 20p plus on Galaxy's next payment very likely...Gla holders..On and Up!!! :-)

20p in sight this week on confirmation of Galaxy's second $250k payment and £1 a share in sight on the rightful award of the permit license for the World Class Bhukia gold prospect, in 16 working days.....Gla Holders.... On and UP!!! ;-)

Next Hearing Date : 15th April 2019......All Objections are Complied???? Document No. Date of Receiving 15-03-2019 DIRECTOR SANDEEP SHAH VAKALATNAMA......Gla Holders..Tick Tock Boom!!! ;-)

High Court of Rajasthan- Rajasthan High Court Principal Seat Jodhpur
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Next Hearing Date : 15th April 2019

Rajasthan High Court Principal Seat Jodhpur
Case DetailsCase Type : CW
Filing Number: 36276/2018Filing Date: 01-09-2018
Registration Number: 13521/2018Registration Date: 05-09-2018
CNR Number: RJHC01-060720-2018

Case Status
First Hearing Date
:

Next Hearing Date
: 15th April 2019

Stage of Case
: ORDERS / APPLICATION

Coram
: 1635
Bench
: Single Bench
State
: RAJASTHAN
District
: Banswara
Judicial
: M/B WRIT SECTION
Causelist Name
: Daily

Petitioner and Advocate1) METAL MINING INDIA PVT. LTD.

Advocate- VIKAS BALIA DINESH PAL SINGH CHARAN,ASHOK CHOUDHARY,PRAMOD VYAS

Respondent and Advocate1) STATE OF RAJASTHAN

2) DIRECTOR
Advocate -SANDEEP SHAH
3) UNION OF INDIA

Acts
Under Act(s) Under Section(s)
OTHER ACTS 226

Sub Matters
Case Number : CMS/13534/2018

Orders

Order Number Judge Order Date Order Details
1 SANDEEP MEHTA 18-09-2018 View
2 ARUN BHANSALI 26-09-2018 View

Category Details
Category Mines, Minerals and Miling Leases ( 900 )

OBJECTION
Sr.No. Scrutiny Date OBJECTION Compliance Date Receipt Date
1 05-09-2018 All Objections are Complied -- --

Document Details
Sr. No. Document No. Date of Receiving Filed by Name of Advocate Document Filed
1 1 28-09-2018 METAL MINING INDIA PVT. LTD. ASHOK CHOUDHARY PF NOTICE
2 2 02-11-2018 METAL MINING INDIA PVT. LTD. ASHOK CHOUDHARY NOTICE SERVED
3 3 15-03-2019 DIRECTOR SANDEEP SHAH VAKALATNAMA

Near term it's all about Bhukia, and given the massive resource potential as well as the prospect of a BSE listing to allow the participation of Indian investors, then there's every chance that Panthera's market cap and 67.6m shares ( 36.3% not in public hands ) will easily eclipse GGP's £62m market cap against their 3,225.62m shares for instance, on permit license approval....Galaxy's next payment will no doubt get the market very excited. Gla Holders...a potential very big week ahead on confirmation. ;-)

It was formed in 2016 to build a portfolio of interests in the Indian gold sector and it intends to list on the BSE in 2019. Under the terms of the December 2018 agreement, Galaxy agreed to

purchase a 10% stake in Panthera's 100% owned subsidiary, Indo Gold Pty Ltd. ("IGL"), for US$1.25m and earn up to a further 12% by providing ongoing support and services to advance the Bhukia JV to the construction phase and

work towards Indo Gold’s participation in Galaxy’s listing on the BSE, which the company believes will more strongly align Indian capital and investors with the success of the project and allow greater participation by Indian investors in the success of the Bhukia project.

Galaxy agreed to purchase the 10% interest in IGL in two 5% stages. In the first stage a 5% stake is to be purchased for US$500,000 consisting of two payments. The payment just received was the first of two US$250,000 payments, with the next amount due before 31 March 2019. The second 5% stake is due to be purchased for US$750,000 prior to the re-commencement of exploration (now expected mid- to late-2019).

Galactic can also earn up to an additional 12% interest in Indo Gold subject to certain milestones - by providing administrative, legal, permitting and technical support to advance the Bhukia JV project (Indo Gold 70%) in India.

Galaxy will earn a further 7.14% interest in IGL at the time that Panthera makes the decision to recommence exploration on the project.

Galaxy will earn a further 5% in IGL on a board decision to commence construction at Bhukia.

Previous work on at the Bhukia Project by the Geological Survey of India outlined a non-compliant resource containing 6.7Moz of gold at a grade of 2.0 g/t Au, while a limited drill programme by the company outlined a JORC-compliant resource of 1.7Moz of gold at a grade of 1.4 g/t. Mineralisation extends from surface, supporting the view that the project should be able to be developed as a large, bulk-mineable, open-pit operation with a low strip ratio. Metallurgical work to date suggests the gold is non-refractory and that the most appropriate processing route is likely to be flotation followed by regrinding and CIL, with 85-90% recoveries expected.

Near term Multi-bag potential on the rightful award of the Bhukia permit license, as well as the prospect of a Bombay Stock exchange listing and Panthera's highly prospective west African gold exploration projects. Galaxy's second $250k payment, expected this week will speak volumes, the strongest indication that ongoing negotiations with Rajasthan's new Government and new mining officials and key administrators are going well...get ready for some serious UPSIDE on confirmation. Gla Holders...Excitement building, Right time, right place...On and UP!!! ;-)

19th Febuary 2019 - Receives first tranche of funding from Galaxy

Panthera’s share price increased by 20% yesterday on the announcement that the first $250,000 tranche of investment from Galactic Gold Mines (“Galaxy”) had been received. This takes the total share price gain since the announcement on 20 December 2018 that Galaxy was a to purchase a 10% stake in Indo Gold Pty Ltd (“IGL”), Panthera’s wholly owned Indian subsidiary, for US$1.25m, to 4.5 times.

COMMENT: The two-staged US$1.25m purchase values Panthera’s remaining 90% interest in IGL at US$11m, a 40% uplift to the company’s current market capitalisation of US$8m, which incorporates its share of the Bhukia JV, its three highly prospective west African gold exploration projects and its approximately 15% stake in Anglo Saxony Mining (which is currently advancing a preliminary feasibility study of the Tellerhauser Sn-Zn-In deposit in Saxony, Germany).

As noted in its December announcement, Panthera and Galaxy are working closely to negotiate IGL’s participation in the listing of Galaxy on the Bombay Stock Exchange (“BSE”) possibly through a merger to the acquisition by Galaxy. We believe that this, together with the granting of the Bhukia PL have the potential to add considerable value to the company.

The company continues to generate encouraging exploration results from its portfolio of gold exploration licenses in West Africa and the first payment under the agreement with Galaxy is a demonstration of the faith that Galaxy have in their ability to help advance the process towards the grant of the PL over the Bhukia project (IGL 70%).

This would allow the company to re-commence exploration on the project which has the potential to develop into a large-scale open pit gold mining project and where current JORC compliant resources are 1.7Moz and the company has a target of outlining 6.0Moz of resources.

Galaxy earning up to 22% stake in Panthera’s Indian subsidiary in return for US$1.25 million and ongoing support and services to advance the Bhukia JV project in Rajasthan to the construction phase — Galaxy is a private Indian company with Australian management that is backed by an Indian venture capital group, Hunch Ventures.

Fully loaded at an average now at 2.8p and holding tight for much more to come....Galaxy's second $250k payment expected next week could take this towards 20p imho.....and so fingers firmly crossed that their extensive technical and legal due diligence is on the Money,and their backer Hunch Investment's, have sway and influence over their corporate and governmental connections. Gla Holders...Permit license approval for the world class Bhukia gold prospect will be a complete game changer for all invested and the subsequent rise in sp on good news will very likely to be breathtaking!!! ;-)